Oman: Polyurethanes Market 2024

Polyurethanes Market Size in Oman

The Omani polyurethanes market rose markedly to $X in 2021, picking up by 8.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a strong increase. Polyurethanes consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Polyurethanes Exports

Exports from Oman

In 2021, shipments abroad of polyurethanes in primary forms increased by 54% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 2,655%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, polyurethanes exports soared to $X in 2021. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 2,694%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), Qatar (X tons) and Yemen (X tons) were the main destinations of polyurethanes exports from Oman, with a combined 89% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of +58.2%), while the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X) remains the key foreign market for polyurethanes in primary forms exports from Oman, comprising 51% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 22% share of total exports. It was followed by Indonesia, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Qatar stood at +61.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+26.3% per year) and Indonesia (0.0% per year).

Export Prices by Country

In 2021, the average polyurethanes export price amounted to $X per ton, surging by 22% against the previous year. In general, the export price, however, showed a drastic downturn. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+2.3%), while the prices for the other major destinations experienced a decline.

Polyurethanes Imports

Imports into Oman

Polyurethanes imports into Oman rose modestly to X tons in 2021, increasing by 3.3% on the year before. In general, imports recorded a prominent expansion. The growth pace was the most rapid in 2015 with an increase of 94%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, polyurethanes imports rose sharply to $X in 2021. Over the period under review, imports posted a remarkable increase. The pace of growth was the most pronounced in 2015 when imports increased by 104% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest polyurethanes supplier to Oman, with a 48% share of total imports. Moreover, polyurethanes imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Switzerland (X tons) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+27.8% per year) and Switzerland (+20.7% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of polyurethanes in primary forms to Oman, comprising 62% of total imports. The second position in the ranking was taken by China ($X), with a 10% share of total imports. It was followed by Switzerland, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates amounted to +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+18.4% per year) and Switzerland (+12.9% per year).

Import Prices by Country

The average polyurethanes import price stood at $X per ton in 2021, surging by 8.5% against the previous year. Overall, the import price, however, continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2018 when the average import price increased by 40% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :